Bank of America expect the BOJ to allow the 10 year JGB yield ceiling to rise to 1.5%

The summary points from BoA's Bank of Japan preview:

• The back-up in global rates is putting pressure on YCC once again, leaving the BoJ with a difficult choice
• While major policy revisions are unlikely, we expect another YCC tweak with base case an increase in 10yr JGB ceiling to 1.5%
• Continued upward pressure on JGB yields and BoJ's continued policy intervention likely; hard for JPY to rise

Earlier:

• At least we know what the BOJ will do today: 10 year JGB yield to be permitted above +1%
• ICYMI: BOJ set to allow 10-yr Japanese government bond yields to rise above 1% ('sources')

USD/JPY was sent lower on that Nikkei report (in the linked posts):